Revenues are recognized when performance obligations are satisfied in accordance with contractual terms, in an amount that reflects the consideration the Company expects to be entitled to in exchange for services rendered or rentals provided. Taxes collected from customers and remitted to governmental authorities and revenues are reported on a net basis in the Company’s financial statements.

A performance obligation arises under contracts with customers to render services or provide rentals, and is the unit of account under Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606). The Company accounts for services rendered and rentals provided separately if they are distinct and the service or rental is separately identifiable from other items provided to a customer and if a customer can benefit from the services rendered or rentals provided on its own or with other resources that are readily available to the customer. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. A contract’s standalone selling prices are determined based on the prices that the Company charges for its services rendered and rentals provided. The majority of the Company’s performance obligations are satisfied over time, which is generally represented by a period of 30 days or less. The Company’s payment terms vary by the type of products or services offered. The term between invoicing and when the payment is due is typically 30 days.

Services revenue primarily represents amounts charged to customers for the completion of services rendered, including labor, products and supplies necessary to perform the service. Rates for these services vary depending on the type of services provided and can be based on a per job, per hour or per day basis.

Rentals revenue is, primarily priced on a per day, per man hour or similar basis and consists of fees charged to customers for use of the Company’s rental equipment over the term of the rental period, which is generally less than twelve months.

The Company expenses sales commissions when incurred because the amortization period would have been one year or less.

Disaggregation of revenue

The following table presents the Company’s revenues by segment disaggregated by geography (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
		2019		2018		2019		2018
U.S. land
Drilling Products and Services	$	46,590	$	45,605	$	142,073	$	129,716
Onshore Completion and Workover Services		145,105		294,869		513,638		802,600
Production Services		32,620		47,858		112,095		148,259
Technical Solutions		7,283		8,453		32,589		23,144
Total U.S. land	$	231,598	$	396,785	$	800,395	$	1,103,719

U.S. offshore
Drilling Products and Services	$	33,895	$	26,065	$	91,048	$	70,315
Onshore Completion and Workover Services		-		-		-		-
Production Services		18,295		16,776		58,977		47,910
Technical Solutions		40,771		47,286		95,195		120,181
Total U.S. offshore	$	92,961	$	90,127	$	245,220	$	238,406

International
Drilling Products and Services	$	30,700	$	27,514	$	79,825	$	78,388
Onshore Completion and Workover Services		-		-		-		-
Production Services		47,872		41,236		134,167		112,422
Technical Solutions		22,586		17,406		69,601		57,999
Total International	$	101,158	$	86,156	$	283,593	$	248,809
Total Revenues	$	425,717	$	573,068	$	1,329,208	$	1,590,934

The following table presents the Company’s revenues by segment disaggregated by type (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
		2019		2018		2019		2018
Services
Drilling Products and Services	$	32,471	$	24,083	$	91,640	$	75,549
Onshore Completion and Workover Services		136,154		284,187		484,965		771,605
Production Services		89,571		97,551		280,171		285,843
Technical Solutions		67,750		65,397		189,612		184,801
Total services	$	325,946	$	471,218	$	1,046,388	$	1,317,798

Rentals
Drilling Products and Services	$	78,714	$	75,101	$	221,306	$	202,870
Onshore Completion and Workover Services		8,951		10,682		28,673		30,995
Production Services		9,216		8,319		25,068		22,748
Technical Solutions		2,890		7,748		7,773		16,523
Total rentals	$	99,771	$	101,850	$	282,820	$	273,136
Total Revenues	$	425,717	$	573,068	$	1,329,208	$	1,590,934

Impact of adoption of ASU 2016-02, Leases (Topic 842)

Services revenue:

In connection with its adoption of Topic 842, the Company determined that certain of its services revenue contracts contain a lease component. The Company elected to adopt a practical expedient option available to lessors, which allows the Company to combine the lease and non-lease components and account for the combined component in accordance with the accounting treatment for the predominant component. Therefore, the Company combined the lease and service components for certain of the Company’s service

contracts and continues to account for the combined component under ASU 2014-09, Revenue from Contracts with Customers (Topic 606).

The Company determined that its rentals revenue contracts represent short-term operating leases. Therefore, the adoption of the ASU 2016-02 did not result in any changes in the timing or method of revenue recognition for the Company’s rental revenues.